Notice of officeholder data-matching program including details and estimation that records relating

The ATO will acquire officeholder data from ASIC, the Office of the Registrar of Indigenous Corporations and the Australian Charities and Not-for-profits Commission for the 2024 and 2025 income years, including details such as:

  1.  their name, address and date of birth;
  2.  email address and contact phone number;
  3.  organisation class, type and status, and state of incorporation; and
  4.  officeholder type, role type, and officeholder role start and end dates.

The ATO estimates that records relating to approximately 11 million individuals will be obtained.

This program aims to (among other things) enable the Australian Business Registry Services to increase uptake of the director ID, and better utilise registry data to combat unlawful activity.

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Opening an Additional tax on concessional contributions notice: Division 293 tax is assessed separately from your income tax return, Wiselink Accountants Melbourne and Brisbane

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Division 293 Tax: The Super Bill That Arrives After You Lodge

Division 293 tax is an extra 15 per cent on super contributions once your income and concessional contributions pass $250,000. It is assessed separately from your return, so the notice lands later, once your fund has reported. The threshold has not moved since 2017-18, and the 60 days to elect a release from super is not an extension of the due date.